Grosvenor Place

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Dexus has sold a half stake in Grosvenor Place to Chinese Investment Corporation for $925 million.
The ASX listed company secured the biggest single commercial deal of the year to date in the much anticipated deal.
Dexus, in partnership with the Canada Pension Plan Investment Board, hopes to pandemic-proof its portfolio.
Dexus held 37.5 per cent, with the Canadian group at 12.5 per cent.The stake was sold at a discount of around 5 per cent to its book value, reflecting the impact of the coronavirus crisis.
The sale to the sovereign wealth fund through by CBRE and JLL awaits approval by the Foreign Investment Review Board.
The deal was flagged by The Australian in September when CIC edged out rivals in the contest for the interest in the tower, in a sign that international players would back the recovery of Australia’s office markets.
The sovereign fund's initial interest in the George Street office tower was bought from the Investa office portfolio in 2015.
The tower will be three-quarters owned by CIC.
 
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Dexus sells Grosvenor Place half share for $925 million to Chinese sovereign wealth fund

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Rockpool Dining Group is bringing the much-loved Melbourne Italian restaurant, Rosetta Ristorante, with menus by chef Neil Perry, as part of Grosvenor Place’s $20 million piazza redevelopment.
The restaurant opens on August 14, and will be spread over three levels with outdoor terrace and bar.
The $20 million piazza redevelopment centres around a fountain feature and is part of a broader George Street makeover with extension of the light rail, outdoor dining in Martin Place and the revitalisation of Circular Quay.
Rosetta’s opening completes a successful couple of years at Grosvenor Place for its co-owners, DEXUS Property Group, Mirvac Group and Arcadia, with the building now boasting a 98.76% occupancy rate and an increase in average rental returns of over 20% in just over two years, said a media release.
“Occupancy at Grosvenor Place is at an all-time high and this can be attributed not only to its position as a premium building, but also to its new luxury range of amenities, namely the luxury end of trip facilities, Camerino, and the diverse offerings in the piazza,” said executive director John Derrick.
Grosvenor Place is a showcase of the Australian modernist architectural movement pioneered by Harry Seidler more than 60 years ago.
The co-owners and managers of Grosvenor Place have worked with architects, Harry Seidler &amp; Associates to ensure the overall piazza design retains and <a href="https://www.urban.com.au/expert-insights/investing/51014-sydney-s-grosvenor-place-piazza-fully-leased-as-makeover-gathers-pace">enhances Seidler’s architecture</a>.
Rockpool chief executive officer Thomas Pash said he was thrilled to work with the group’s director of Culinary &amp; Brands, Neil Perry, to bring Rosetta to Sydney.
“We are excited to bring Neil’s much-loved Melbourne restaurant to Sydney and to take up residence at such an iconic space. Rosetta’s beautiful décor and design fits perfectly in such a striking building.”
Rosetta joins Rockpool Dining Group’s fast casual Japanese diner, Saké  Jr, as well as Grand Dūk’s modern Australian restaurant with a Vietnamese and French twist; popular dumpling and cocktail bar, Papa Bo Min and coffee house, Georgie Boy’s.
 
 
 
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Rockpool unveils Italian diner Rosetta at Sydney's Grosvenor Place

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Insurance group Chubb Insurance, brokerage and investment group CLSA and global design agency Unispace, have leased a combined total of 4,019 sqm in Sydney's Grosvenor Place.
Approximately 11,000 square metres of space has been leased at Grosvenor Place in the last six months, with the building’s occupancy rate at 95 percent.
Grosvenor Place Executive Director, John Derrick said securing such high-calibre tenants to Grosvenor Place underscores the building’s premium quality, large efficient floor plates, excellent natural light and views, and its prime harbourside location.
 
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